By Fergal Smith TORONTO (Reuters) – Canadian manufacturing activity slowed in May as high inflation and inventory cutting held back customer demand, but in a silver lining the reduction in activity contributed to an easing of supply pressures, data showed on Thursday. The S&P Global Canada Manufacturing Purchasing Managers’ Index (PMI) fell to a seasonally…
(Reuters) – Ukrainian President Volodymyr Zelenskiy said on Thursday Kyiv wanted to receive a “clear” decision on its future in the NATO military alliance when the bloc’s leaders meet in Vilnius in July. At a summit of over 40 European leaders in Moldova, he also said he wanted progress on Ukraine’s path to the European…
By Nupur Anand NEW YORK (Reuters) – JPMorgan Chase & Co will shut 21 branches of First Republic Bank by the end of the year as it integrates the failed lender into its operations, a JPMorgan spokesperson said on Thursday. The locations account for about a quarter of First Republic’s 84 branches across eight states….
ISLAMABAD (Reuters) – Pakistan’s annual inflation rate rose to 37.97% in May, the statistics bureau said on Thursday, setting a national record for the second month in a row, adding to its problems of a balance of payment crisis and the risk of a sovereign default. Already in April, the bureau said Pakistan’s CPI at…
By Noele Illien and Stefania Spezzati ZURICH (Reuters) -Credit Suisse has repaid the liquidity backed by the Swiss government, Finance Minister Karin Keller-Sutter said in an interview with Swiss broadcaster SRF aired late on Wednesday. The bank so far has not disclosed how much it had borrowed under the so-called public facility backstop (PLB) –…
By Carien du Plessis JOHANNESBURG (Reuters) -South Africa is mulling legal options if Russian President Vladimir Putin, the subject of a war crimes arrest warrant, attends a BRICS emerging economies summit in Johannesburg in August, Foreign Minister Naledi Pandor said on Thursday. The International Criminal Court has issued a warrant for Putin related to Russia’s…
PARIS (Reuters) – Upcoming interest rate hikes will be marginal, said European Central Bank (ECB) member and Bank of France governor Francois Villeroy de Galhau, who added that rate hikes were beginning to have an impact on inflation. “The increases in interest rates that we still have to do are relatively marginal, most of the…
WASHINGTON (Reuters) – The number of Americans filing new claims for unemployment benefits increased modestly last week, suggesting the labor market remains tight despite growing fears of a recession amid higher borrowing costs. Initial claims for state unemployment benefits rose 2,000 to a seasonally adjusted 232,000 for the week ended May 27. Economists polled by…
By Fergal Smith and Steve Scherer TORONTO (Reuters) – Canada’s residential construction activity has slowed in recent months due to a tight labor market and higher borrowing costs, a factor that could thwart government plans to reduce a housing shortfall and add to the recovery in home prices. That would be bad news for the…
By Ahmad Ghaddar and Maha El Dahan LONDON/DUBAI (Reuters) -OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance told Reuters. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies…
